alt Hacker NewsNo, they do not.
Vietnam for example: US 46% tariff, Vietnam average 15% tariffs.
This will hurt the US far more than it hurts other countries, as other countries will just start to bypass the US and trade with other nations.
Who would trust goods from the US or having them as part of your supply chain after this?
The tariff’s aren’t entirely based on the trade deficit. Vietnam artificially keeps its currency undervalued to boost exports.
Trade with other nations?
These are exports to the US, which is 25% of the world’s GDP.
Who is going to replace that demand?
You think Vietnam, where 30% of GDP are US exports, is going to be hurt less than the US where Vietnam makes up 3.9% of imports?